In a rapidly changing workforce landscape, where job roles are being re-evaluated, workforces are adjusting to hybrid models, and new ambitions are set, organizations recognize that building talent goes beyond recruitment. It’s about harnessing the potential of their people and fostering actual development through an effective skills training strategy. According to the World Economic Forum, 50 percent of all employees will need reskilling by 2025, highlighting the urgency of a strategic approach. Here, we explore how organizations can navigate this transformative journey to reskill, retain, and re-engage their teams.
The Importance of a Skills Strategy
The skills training marketplace is emerging as a central focus for growing organizations worldwide. The demand to train new skills and adapt training dynamically has surged, fueled by remote work, digitalized workplaces, and evolving consumer demands. In light of these changes, having a skills strategy becomes paramount.Understanding the skills within your talent pool and identifying skills profiles are vital steps for organizational success and growth.
It’s also vital to consider that skills-based organizations make a significant impact. Research from Deloitte finds that organizations that embed a skills-based approach are 63 percent more likely to achieve results than those that have not adopted skills-based practices, which emphasizes the effectiveness of aligning organizational practices with a focus on skills.
Steps to Build an Effective Skills Training Strategy
Step 1. Define roles: A fundamental aspect of a skills training strategy is understanding the roles within your organization. Developing a skills taxonomy—a standardized approach to categorize job titles and skills—provides a clear foundation.Step 2. Create a skills map: Evaluate how defined roles and skills align with the actual skill landscape within your organization. Conducting internal audits and engaging employees to identify their skills, ambitions, and additional skills outside their daily tasks contribute to uncovering hidden talents and potential.
Step 3. Conduct a skills gap assessment: Identify areas where skills are lacking or insufficient within each department. Consider future projects, expansions, and potential talent churn, and explore upskilling and ad hoc reskilling programs to address current and future skill gaps.
Step 4. Build a capability academy: Transform your skills training strategy into a capability academy—an evolving platform focused on continuous learning. As the organization changes, it’s key to adapt the skills training content to meet evolving needs, encouraging a learning culture where employees develop long-term capabilities. With a learning management system (LMS) like eloomi, you can select courses curated by industry experts, matching employees to relevant content. The platform offers continuous learning, fostering a culture where employees collaborate to build transferable and long-lasting capabilities.
Benefits of a Strategic Skills Training Strategy
- Harness new skills and agile mindsets.
- Increase employee engagement.
- Boost adaptability to change.
- Identify future leaders.
- Reduce staff turnover.
- Build consistent organizational knowledge.
- Reduce time spent on paperwork planning.
As organizations navigate the complexities of the modern business landscape, a robust skills training strategy emerges as a key driver of growth and resilience. By understanding the evolving skills landscape, defining roles, and creating a continuous learning environment, organizations can position themselves for success built to last.
